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Unit information: Microeconomics with Extended Essay in 2021/22

Unit name Microeconomics with Extended Essay
Unit code EFIM30052
Credit points 30
Level of study H/6
Teaching block(s) Teaching Block 2 (weeks 13 - 24)
Unit director Professor. Simpson
Open unit status Not open
Pre-requisites

None

Co-requisites

None

School/department School of Economics
Faculty Faculty of Social Sciences and Law

Description including Unit Aims

This unit is only available to Graduate Diploma students.

The unit will study the main microeconomic models which underlie modern economic thinking and which are drawn upon by macroeconomics and other fields within economics. As such it will prepare students for final-year units and provide the foundation for students to have the economic tools to apply to concrete problems upon graduation.

The unit will cover theoretical models, practical applications of those models and empirical evidence.

Topics will include:

(i) Budget constraints, preferences and utility

(ii) Choice and demand

(iii) Uncertainty

(iv) Monopoly and price discrimination

(v) Oligopoly

(vi) Externalities

(vii) Asymmetric information

Intended Learning Outcomes

Students will be able to:

1. Understand how theoretical microeconomic models work

2. Apply these models to practical questions and draw appropriate policy conclusions

3. Compare and contrast competing theories about how consumers and firms behave and about how markets work (or fail)

4. Understand the conclusions and methods used by empirical papers in microeconomics to evaluate econ

Teaching Information

Teaching will be delivered through a combination of synchronous and asynchronous sessions such as online teaching for large and small group, face-to-face small group classes (where possible) and interactive learning activities

Assessment Information

Summative Coursework (1,000 words) (17%) Assesses all learning outcomes.

Exam (2 hours) (50%) Assesses all learning outcomes.

Extended Essay (2,000 words) (33%) Assesses all learning outcomes.

Resources

If this unit has a Resource List, you will normally find a link to it in the Blackboard area for the unit. Sometimes there will be a separate link for each weekly topic.

If you are unable to access a list through Blackboard, you can also find it via the Resource Lists homepage. Search for the list by the unit name or code (e.g. EFIM30052).

How much time the unit requires
Each credit equates to 10 hours of total student input. For example a 20 credit unit will take you 200 hours of study to complete. Your total learning time is made up of contact time, directed learning tasks, independent learning and assessment activity.

See the Faculty workload statement relating to this unit for more information.

Assessment
The Board of Examiners will consider all cases where students have failed or not completed the assessments required for credit. The Board considers each student's outcomes across all the units which contribute to each year's programme of study. If you have self-certificated your absence from an assessment, you will normally be required to complete it the next time it runs (this is usually in the next assessment period).
The Board of Examiners will take into account any extenuating circumstances and operates within the Regulations and Code of Practice for Taught Programmes.

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